Eledon Pharmaceuticals, Inc. (ELDN) Income Statement
ELDN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsELDN revenue and net income
ELDN profit margins
ELDN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ELDN quarterly EPS vs estimates
Eledon Pharmaceuticals beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 13, 2026 (estimate $-0.20).
ELDN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $120,000 | $120,000 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | $359,000 | $374,000 | $373,000 | $195,000 | $183,000 | $182,000 | $11,000 | $22,000 | $35,000 |
| Gross profit | — | −$359,000 | −$374,000 | −$373,000 | $120,000 | −$183,000 | −$182,000 | −$11,000 | −$22,000 | −$35,000 |
| Research & development | $66.3M | $52.0M | $30.3M | $27.1M | $23.7M | $6.1M | $8.1M | $6.8M | $2.0M | $25.0M |
| Sales, general & admin | $17.0M | $18.6M | $12.7M | $12.7M | $13.1M | $10.1M | $6.1M | $7.2M | $11.1M | $13.1M |
| Total operating expenses | $83.3M | $70.6M | $42.6M | $88.4M | $36.9M | $18.5M | $14.0M | $14.1M | $13.1M | $38.1M |
| Operating income | −$83.3M | −$70.6M | −$43.0M | −$88.4M | −$36.9M | −$18.5M | −$14.2M | −$14.1M | −$13.1M | −$38.1M |
| Interest expense | — | — | — | $462,000 | $202,000 | $9.7M | $0 | $0 | $0 | $0 |
| Income before taxes | −$45.6M | −$35.8M | −$40.3M | −$88.0M | −$36.9M | −$23.2M | −$16.0M | −$14.1M | −$13.1M | −$38.0M |
| Income taxes | $35,000 | $431,000 | — | −$462,000 | −$2.4M | −$404,000 | $1.9M | −$5,000 | — | $136,000 |
| Net income | −$45.6M | −$36.2M | −$40.3M | −$88.0M | −$34.5M | −$22.8M | −$16.0M | −$14.1M | −$13.1M | −$38.0M |
| EBITDA | −$45.3M | −$35.4M | −$42.6M | −$39.4M | −$36.7M | −$16.0M | −$15.8M | −$14.0M | −$13.1M | −$6.9M |
| EPS (diluted) | −$0.52 | −$2.67 | −$1.79 | −$2.76 | −$2.33 | −$12.39 | −$22.86 | −$87.12 | −$34.01 | −$273.78 |
| Gross margin | — | — | — | — | 100.0% | −152.5% | — | — | — | — |
| Operating margin | — | — | — | — | −30,722.5% | −15,387.5% | — | — | — | — |
| Net margin | — | — | — | — | −28,755.0% | −19,009.2% | — | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $384,000 | $0 | $560,000 | $0 | $0 | $0 |
| Cost of revenue | — | — | — | — | — | — | $88,000 | $79,000 | $97,000 | $95,000 | $94,000 | $94,000 |
| Gross profit | — | — | — | — | — | — | −$88,000 | −$79,000 | −$97,000 | −$95,000 | −$94,000 | −$94,000 |
| Research & development | $18.2M | $17.2M | $17.5M | $15.0M | $20.3M | $13.5M | $17.9M | $16.5M | $10.1M | $7.4M | $7.1M | $7.9M |
| Sales, general & admin | $4.6M | $4.0M | $4.0M | $4.1M | $4.5M | $4.5M | $6.9M | $4.1M | $4.5M | $3.6M | $3.4M | $3.3M |
| Total operating expenses | $22.9M | $21.2M | $21.5M | $19.1M | $24.7M | $18.0M | $24.7M | $20.5M | $14.5M | $10.8M | $10.2M | $11.2M |
| Operating income | −$22.9M | −$21.2M | −$21.5M | −$19.1M | −$24.7M | −$18.0M | −$24.7M | −$20.5M | −$14.5M | −$10.9M | −$10.3M | −$11.2M |
| Interest expense | — | — | — | — | — | — | — | — | $338,000 | — | — | — |
| Income before taxes | −$31.6M | −$39.0M | −$10.4M | −$17.5M | −$11.2M | −$6.5M | −$44.2M | $77.0M | −$44.9M | −$10.3M | −$9.6M | −$9.9M |
| Income taxes | — | — | $35,000 | — | — | — | $431,000 | — | $51,724 | $51,724 | $50,188 | $133,586 |
| Net income | −$31.6M | −$39.0M | −$10.4M | −$17.5M | −$11.2M | −$6.5M | −$44.6M | $77.0M | −$44.9M | −$10.3M | −$9.6M | −$9.9M |
| EBITDA | −$14.1M | −$39.0M | −$10.3M | −$17.5M | −$11.2M | −$6.5M | −$44.1M | $77.0M | −$44.8M | −$10.8M | −$10.2M | −$9.8M |
| EPS (diluted) | −$0.19 | −$0.33 | −$0.10 | −$0.21 | −$0.13 | −$0.08 | −$0.95 | −$0.32 | −$1.06 | −$0.34 | −$0.29 | −$0.35 |
| Gross margin | — | — | — | — | — | — | −22.9% | — | −17.3% | — | — | — |
| Operating margin | — | — | — | — | — | — | −6,431.2% | — | −2,589.6% | — | — | — |
| Net margin | — | — | — | — | — | — | −11,619.0% | — | −8,019.1% | — | — | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ELDN's financial statements (latest annual report filed March 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ELDN financial results
Eledon Pharmaceuticals reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $45.6 million. Diluted earnings per share came to −$0.52.
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ELDN income statement FAQ
Does Eledon Pharmaceuticals have revenue?
Eledon Pharmaceuticals reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Eledon Pharmaceuticals profitable?
No. Eledon Pharmaceuticals reported a net loss of $45.6 million in fiscal 2025.
How much does Eledon Pharmaceuticals spend on research and development?
Eledon Pharmaceuticals spent $66.3 million on research and development in fiscal 2025.
What are Eledon Pharmaceuticals's earnings per share?
Eledon Pharmaceuticals earned $-0.52 per diluted share in fiscal 2025, compared with $-2.67 a year earlier.
When will Eledon Pharmaceuticals report its next earnings?
Eledon Pharmaceuticals is expected to report results for the quarter ending September 30, 2026 on November 13, 2026 after the market closes.
When does Eledon Pharmaceuticals's fiscal year end?
Eledon Pharmaceuticals's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 19, 2026.